Sunday, 27 August 2017

Bank Nifty Spot Outlook for 28th Aug

BANK NIFTY

Bank Nifty spot opened at 24374.75 , made a low of 24224.85 , it made a high of 24411.05, before closing at 24274.20.

Had mentioned that long positions for the day can be taken above 24400 and short positions for the day can be taken below 24235 .Bank Nifty initially triggered our intraday short trade and reversed immediately to take our SL . It then triggered our long trade towards the end but again did not complete any target and took our SL . Bank Nifty had triggered our weekly long trade in the previous session and completed 3 targets with the high for the day.

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24235 can test 24150 - 24130 and on sustaining below it we can see a further test of 24055 - 23975 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24400 we can see a test of 24485 - 24505 initially and breaking and sustaining above it we can see a further move till 24580 - 24660 next . " , and we saw Bank Nifty break both 24235 and 24400 but failed to sustain in either direction for the day . Now in the coming session Bank Nifty breaking and sustaining below 24195 can test 24110 - 24090 and on sustaining below it we can see a further test of 24020 - 23940 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24355 we can see a test of 24435 - 24460 initially and breaking and sustaining above it we can see a further move till 24530 - 24610 next .

Bank Nifty Spot Levels for the day are

Long above 24355 for 24405 – 24460 – 24610 , SL 24250

Short below 24195 for 24145 – 24090 – 23940 , SL 24300

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.